The UK is looking to be a part of Saudi Arabia’s ‘Vision 2030’ even before the US reaches out to the Kingdom. Saudi Arabia’s ambitious project Vision 2030 is attracting investors from the globe and the UK is keen on building partnerships.
A business delegation from the UK including HSBC Bank and British Airways, among others visited Saudi Arabia to discuss prospects of a partnership. Additionally, 450 other businesses from the UK were part of the delegation to build partnerships with Saudi Arabia’s ambitious project.
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This is the largest business delegation the UK sent overseas in more than a decade. The development indicates that the UK aims to leverage Vision 2030 and partner early with Saudi Arabia for the project.
The meeting in Riyadh ended on a positive note as both the UK and Saudi Arabia agreed to open up their markets for each other. Therefore, in the next decade, the UK will have closer ties with the Kingdom for the Vision 2030 project. It will also attract investments back in the UK from the Kingdom.
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After the US, UK Builds Partnerships With Saudi Arabia For Vision 2030
UK’s Minister for Business and Trade, Lord Dominic Johnson confirmed that the country is opening up for Saudi investments. He revealed that the Kingdom of Saudi will also open up their markets for the UK in a mutual understanding. The move will lead to better investment opportunities, growth in exports, and other financial collaborations for both countries.
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“We’re opening up our markets to one another so that investment, exports, tourism, and collaboration flows in both directions,” said Deputy Prime Minister Oliver Dowden. He cited that the UK will also help the Kingdom to plan and diversify their economy away from oil. “Britain doesn’t just endorse Vision 2030, we want to be a part of it,” said Dowden.